Up and Down Wall Street Daily - Barron's Online
Great post from Randall Forsyth that should be read. If you don't subscribe take the free trial (I'm assuming there is one?) to get this article.
One point he makes which is one I have made several times in the past is that other countries are not likely to be big sellers of dollar denominated assets but more likely is that they will simply buy fewer dollar denominated assets in the future.
Of course the US will draw some capital from the deployment of all of these sovereign funds we are now hearing more about.
I think the big macro is generally less demand for US assets, with sovereign funds slowing it down a tad, which is what I have thought for a long time and is the focus of Randall's article.
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1 comments:
I was on business this week and did't get a chance to read you until this AM. I would add that the buying spree of the Chinese (think Timber and Oil fields in Canada and Africa etc.) is also a defacto sale of USD. Unless that was mentioned in Forsyth's post which I haven't read.... I hate pay for content - especially when there is great content for free like this site! Thanks Roger.
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